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FLEXIACCESS DRAWDOWN BENEFIT OPTIONS Phoenix Wealth, PO Box 6274, Basingstoke, RG24 4DT. When to use this form Please complete this form to confirm how you would like to take flexiaccess drawdown

How to fill out flexi-access drawdown

How to fill out flexi-access drawdown

1. To fill out flexi-access drawdown, follow these steps:
2. Determine if you are eligible for flexi-access drawdown. This is typically available to individuals aged 55 or over who have a defined contribution pension.
3. Contact your pension provider to express your desire to access flexi-access drawdown.
4. Provide the necessary documentation and identification to your pension provider, as per their requirements.
5. Discuss and agree on the amount you wish to withdraw as your first income payment.
6. Decide how you want to invest the remaining funds in your pension pot.
7. Complete the necessary forms and paperwork provided by your pension provider.
8. Submit the completed forms and wait for confirmation from your pension provider.
9. Once approved, your flexi-access drawdown will be active, and you can begin accessing your pension fund as per the agreed terms.

Who needs flexi-access drawdown?

1. Flexi-access drawdown is particularly useful for individuals who:
2. - Desire flexibility in managing their pension income
3. - Want to vary the amount they withdraw from their pension pot
4. - Prefer to keep their pension invested for potential growth
5. - Plan to continue working while accessing their pension
6. - Wish to pass on their pension to beneficiaries upon their death

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What is flexi-access drawdown?

Flexi-access drawdown allows individuals to access their pension savings flexibly, taking as much or as little income as they like.

Who is required to file flexi-access drawdown?

Individuals who have opted for flexi-access drawdown as a way to access their pension savings are required to file it.

How to fill out flexi-access drawdown?

Flexi-access drawdown can be filled out by submitting the necessary forms and documents to the pension provider or financial institution managing the pension savings.

What is the purpose of flexi-access drawdown?

The purpose of flexi-access drawdown is to provide individuals with greater flexibility and control over how they access their pension savings.

What information must be reported on flexi-access drawdown?

Information such as the amount of income taken, any tax deducted, and details of the pension provider must be reported on flexi-access drawdown.